7/29/2019 9a7e9BCH102 - Additional Trial Exam Questions (2)

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1. Record the following transactions in a 3- Column Cash Book

1/3/11 Balance for Cash is Rs50 (DR)Balance for Bank is Rs400 (CR)

3/3/11 Cash sales Rs6005/3/11 Paid for purchase of machinery by cheque Rs1,0008/3/11 Paid wages Rs4010/3/11 Received cheque from Mr. A (in full settlement of Rs500)

amounting to Rs480.13/3/11 Gave a cheque to Mr. B Rs400

15/3/11 Withdrew cash from bank for office use Rs500

16/3/11 Received cheque from Mr. A endorsed to Mr. C in full settlement ofRs52020/3/11 Cheques issued to Mr. C dishonored

30/3/11 Paid life insurance for proprietor Mr. D Rs80.

2. Journalise the following for Tanya Auto Spares Ltd

(i) Rent due to landlord Rs800

(ii) Depreciation on office furniture Rs1,000(iii) Goods purchased worth Rs25,000 from Dhal Moot Ltd less 20% tradediscount and 2% cash discount.

(iv) Deposited into bank Rs20,000(v) Kajodhar a debtor became bankrupt paid only pay 25 paise in every

rupee on a debt of Rs2,500.(vi) Received cash for bad debts written off last year of Rs500.

3. Daya bought a vehicle for Rs1,20,000 on 1/3/2010. Depreciation iscomputed at 10% per annum. The vehicle was sold on 1/4/2012 forRs99,000 cash. Compute depreciation using: Straight Line, DiminishingValue and Sum-to-Digit method. Prepare all ledger accounts from1/3/2010 to 1/4/2012 under diminishing value method only. If the vehiclecould travel for 250,000 km in its entire life and the resale vale wasRs50,000, compute the depreciation using Unit-of-use method if numberof kilometers traveled in 2010 was 75,000 km.

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7/29/2019 9a7e9BCH102 - Additional Trial Exam Questions (2)

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4. Record the following in the Purchase Book

Mar 1 Purchased from Baramanki Traders- 20 tables @ Rs200 each- 20 chairs @ Rs80 each- Less Trade discount @ 10%- Plus Delivery and cartage charges Of Rs20

Mar 7 Purchased from Khathai Lal (Mithaiwala)- 10 pkt sweets @ Rs200 each- 5 kg Dahi @ Rs20/kilo- Less Trade discount

5. Batook purchased a machinery on 1-1-2008 for Rs2,40,000 and spentRs10,000 on its erection and installation.. On 1-7-2008 it purchasedanother machine for Rs1,10,000. On 1/8/2010, it sold the first machinerybought on 1/1/2008 for Rs1,45,000 and again on the same date boughtanother machinery for Rs2,20,000. Depreciation is provided at 10% perannum on diminishing value. The financial year ends on 31st Decembereach year. Prepare Machinery, Depreciation, Provision for Depreciationand Sale of Machinery accounts from 1-1-2008 till 31-12-2010. Show theBalance Sheet also for 31-12-2010.

6. Ballu purchased a machine for Rs2,00,000 on 1-1-2003. The machine wasdepreciated at 10% pa under WDV method. On 1-1-2006 the firm changedits depreciation method to SLM without changing the rate of depreciation.Prepare Machinery, Depreciation, Provision for Depreciation accountsusing SLM from 1-1-23 till 31-12-2006. The financial year is 31December each year. Any under charge or over charge in depreciationusing the wdv to be adjusted in the Profit and loss account.

7. Tony bought 3 vehicles from Vineet Automart for Rs1,20,000 each . Tonyagreed to pay 40% deposit and the balance to be paid in 3 equalinstallments. Vineet agrees but charges Tony interest of 15% per annum.Tony is also required to provide depreciation on the vehicles @ 20% pausing Diminishing Value method. The financial year ends on 31st

December each year. Prepare journal entries and ledger accounts forTony and Vineet Automart. (Where necessary show all workings)

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